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BlockBeats News, June 1st, a recent study by Moody's Analytics has shown that since the outbreak of the US-Iran conflict, the average American household has faced an additional $447.19 in energy-related expenses, with the total national consumer cost increase approaching $60 billion.
The report highlights that the rise in energy prices is mainly reflected in gasoline, diesel, and airfare prices. Of these, gasoline costs account for about half of the new household expenses, the increase in diesel prices has added over $20 billion in additional expenses for consumers, and the surge in aviation fuel costs has driven airfare expenses up by nearly $10 billion.
Moody's Chief Economist Mark Zandi has warned that if current energy prices remain unchanged, the average American household could lose nearly $2,000 in purchasing power over the next year due to rising energy costs, which could further dampen consumer spending and weigh on the already fragile US economy.
Data shows that the average price of gasoline in the US has now risen to $4.39 per gallon, while the average price of diesel has reached $5.52 per gallon. At the same time, airfares saw a year-on-year increase of over 20% in April, and the impact of rising energy prices is particularly pronounced on low-income families.
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